TSX:SOT.DB - Post by User
Comment by
Malpeque2on Dec 21, 2022 11:07am
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Post# 35184628
RE:RE:RE:Looks like stockholders are getting screwed again
RE:RE:RE:Looks like stockholders are getting screwed againThey don't have to match it. They bought a property in the US and told us all what a great deal it was............at 8.7% cap rate. Financed somewhat with a 7.5% debenture, the spread sucks.
Now at 9% debenture we have a negative spread on the margin on that purchase of that asset.
You mean to tell me their are NO saleable assets in the portfolio that could be sold at a Cap rate below 9%? There are NO unencumbered assets that could be mortgaged at less than 9%. No properties that could be re-mortgeged or refi at less than 9%?
This is total BS on the part of SLAM as manager. And the lemmings on the BOD whom are beholden to SLAM they voted "FOR" at the BOD meeting to approve this non-sense transaction?